Healthcare Industry News:  osteoporosis 

Biopharmaceuticals Personnel

 News Release - May 7, 2007

Bill Cadwallader Joins Velcura Therapeutics, Inc. as Executive Vice President of Corporate Development

ANN ARBOR, Mich., May 7 (HSMN NewsFeed) -- Velcura Therapeutics, Inc., a biotechnology company dedicated to fighting bone diseases that affect more than 100 million people worldwide, has named Bill Cadwallader Executive Vice President of Corporate Development.

Michael W. Long, PhD, President and CEO, said, "Bill is the results-driven type of professional that we are looking to add to our management team. I am impressed with the breadth of his expertise in both national and international bio-pharmaceutical markets, his energy and his extensive industry experience. This is one of several key management positions Velcura will fill as we begin to prepare our first therapy for clinical trials this fall. That drug, VEL-0230, is a dual-action therapy that both stimulates bone formation and retards its loss, making it a very attractive agent for treating osteoporosis and other bone diseases."

Immediately prior to joining Velcura, Cadwallader was Vice President, Strategic Planning and Marketing, at Cell Therapeutics, Inc. an oncology- focused bio-pharmaceutical company, headquartered in Seattle, Wa. Previous to Cell Therapeutics, he worked for Amgen, Thousand Oaks, Ca, where he held progressively responsible positions in strategic planning, marketing, global marketing and product licensing. While at Amgen, Cadwallader played a key role in the launch of Neulasta(TM), which was named as one of the most successful U.S. oncology product launches in pharmaceutical history by the Wall Street Journal.

Prior to Amgen, Cadwallader was part of the successful joint venture of Sankyo and Parke Davis, helping to establish the U.S. presence of Sanyko, Japan's second largest pharmaceutical company. Bill began his career as a sales representative at global pharmaceutical companies Pharmacia and Upjohn; He earned his Masters in Business Administration degree from Seattle University and Bachelor's degree from Eastern Washington University.

Cadwallader said "I am extremely pleased for the opportunity to work along side Dr. Long and his team of dedicated scientists to grow Velcura into a premier biotechnology company. This talented group is successfully embracing the challenge of discovering novel therapies for bone diseases and taking them into the clinic."

About Velcura Therapeutics®, Inc.

Focused on developing drugs that stimulate bone formation, Velcura Therapeutics®, Inc. is a biotechnology company that grows human bone in tissue culture and then uses this process to develop novel therapies for osteoporosis and other bone diseases. Based in Ann Arbor, Velcura is a spin-off of the University of Michigan and was recently recognized as one of the "Michigan 50 Companies to Watch," an awards program sponsored by the Edward Lowe Foundation. Since 2002, Velcura has received funding from the Michigan Life Sciences Corridor and the National Institutes of Health. Velcura has a strategic partnership with Nippon Chemiphar Co., Ltd. Tokyo, Japan. For more information, visit http://www.velcura.com.


Source: Velcura Therapeutics

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